ARLINGTON, Va.–(CTA)–The Consumer Technology Association (CTA) announced the selection of the first two funds it will invest in as part of CTA’s $10 million commitment to venture firms and funds that invest in women, people of color and other underrepresented entrepreneurs – Harlem Capital Partners and SoGal Ventures.
Harlem Capital Partners is a New York-based minority-owned early-stage venture capital firm with a mission to change the face of entrepreneurship by investing in 1,000 diverse founders over the next 20 years. SoGal Ventures is the first female-led, millennial venture capital firm and invests in early stage diverse founding teams in the U.S. and Asia.
“For innovation to reach its fullest potential, different voices and perspectives must have an opportunity to come together in our workforce,” said Tiffany Moore, SVP, political and industry affairs, CTA. “CTA is committed to finding solutions through education, investment, membership and leading by example.”
In January of 2019, CTA announced a commitment to invest $10 million in venture firms and funds focused on women, people of color and other underrepresented startups and entrepreneurs. Today, CTA followed through on its commitment and is working to make the technology industry a more inclusive environment for all people.
CTA and Harlem Capital share a strong commitment and passion for changing the face of entrepreneurship. The partnership and investment will help create a larger impact and drive change in an underrepresented part of the tech sector.
“SoGal Ventures is committed to empowering millennial and Gen Z women and minorities as they take center stage in entrepreneurship and technology creation,” said Elizabeth Galbut, founding partner, SoGal Ventures. “We look forward to working on this opportunity with CTA, who is equally dedicated to investing in the future of innovation.”
As an association, CTA will continue working with its member companies to drive the industry forward on diversity and inclusion best practices, solutions through education and investments.
Original Press Release: https://bit.ly/2Z7poXS
Consumer Technology Association (CTA)™ is the trade association representing the $398 billion U.S. consumer technology industry, which supports more than 15 million U.S. jobs. More than 2,200 companies – 80 percent are small businesses and startups; others are among the world’s best-known brands – enjoy the benefits of CTA membership including policy advocacy, market research, technical education, industry promotion, standards development and the fostering of business and strategic relationships. CTA also owns and produces CES® – the world’s gathering place for all who thrive on the business of consumer technologies. Profits from CES are reinvested into CTA’s industry services.